MSTC LTD Vs. STANDARD CHARTERED BANK

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. Respondents waive service. Taken up for final disposal.

(2.) This Petition is filed for challenging the order dtd. 9/11/2022 passed by the Debt Recovery Appellate Tribunal ("DRAT") at Mumbai in Interim Application No. 43 of 2021 in Miscellaneous Appeal (Dairy) No. 146 of 2021. By the said order application filed by the Petitioner for condonation of delay of 856 days in filing the appeal is rejected. Petitioner had filed the said appeal for challenging judgment and order dtd. 16/9/2017 passed by the Debt Recovery Tribunal ("DRT"), thereby granting decree on admission in favour of the Respondent.

(3.) Respondent had filed Original Application No. 43 of 2012 under Sec. 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) before DRT, Mumbai for recovery of an amount of Rs.191,03,54,070.96 together with interest thereof. Petitioner had filed a written statement in the said application. Respondent had filed Interim Application No. 302 of 2017 under Rule 12(5) of the DRT (Procedure) Rules, 1993 praying for directing the Petitioner to pay the amount admitted by the Petitioner as being due and payable to the Respondent (decree on admission). By order dtd. 16/9/2017 DRT allowed the said application thereby directing the Petitioner to pay an amount of Rs.222.51 crores.